Analysts forecast that Kornit Digital Ltd (NASDAQ:KRNT) will post earnings of $0.11 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Kornit Digital’s earnings, with estimates ranging from $0.09 to $0.12. Kornit Digital posted earnings per share of $0.05 during the same quarter last year, which would indicate a positive year over year growth rate of 120%. The business is scheduled to issue its next earnings report after the market closes on Monday, November 12th.
According to Zacks, analysts expect that Kornit Digital will report full-year earnings of $0.34 per share for the current year. For the next fiscal year, analysts forecast that the firm will report earnings of $0.66 per share, with EPS estimates ranging from $0.65 to $0.66. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Kornit Digital.
Several brokerages recently commented on KRNT. BidaskClub raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Saturday, November 3rd. Barclays set a $24.00 price objective on shares of Kornit Digital and gave the stock a “buy” rating in a research note on Saturday, October 13th. Stifel Nicolaus lifted their price objective on shares of Kornit Digital from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. Needham & Company LLC lifted their price objective on shares of Kornit Digital from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, October 5th. Finally, ValuEngine upgraded shares of Kornit Digital from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Kornit Digital currently has a consensus rating of “Buy” and an average price target of $22.60.
Institutional investors have recently modified their holdings of the business. Engineers Gate Manager LP acquired a new stake in Kornit Digital in the 2nd quarter worth about $201,000. LA Financiere DE L Echiquier raised its stake in Kornit Digital by 20.8% in the 3rd quarter. LA Financiere DE L Echiquier now owns 627,944 shares of the industrial products company’s stock worth $13,752,000 after purchasing an additional 107,944 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Kornit Digital by 55.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 495,143 shares of the industrial products company’s stock worth $8,813,000 after purchasing an additional 176,684 shares in the last quarter. Cowen Prime Services LLC raised its stake in Kornit Digital by 20.3% in the 2nd quarter. Cowen Prime Services LLC now owns 64,944 shares of the industrial products company’s stock worth $1,156,000 after purchasing an additional 10,950 shares in the last quarter. Finally, CWM LLC raised its stake in Kornit Digital by 36.6% in the 3rd quarter. CWM LLC now owns 247,727 shares of the industrial products company’s stock worth $5,425,000 after purchasing an additional 66,325 shares in the last quarter. Institutional investors and hedge funds own 94.51% of the company’s stock.
Shares of KRNT stock opened at $20.06 on Friday. The stock has a market cap of $694.72 million, a P/E ratio of 168.75 and a beta of 0.67. Kornit Digital has a 52 week low of $11.70 and a 52 week high of $22.20.
Kornit Digital Company Profile
Kornit Digital Ltd. develops, manufactures, and markets industrial digital printing technologies for the garment, apparel, and textile industries. The company focuses on the direct-to-garment and roll-to-roll segments of the printed textile industry. Its solutions include digital printing systems, ink and other consumables, associated software, and value added services.
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